SCPC Applauds House Minority’s Forum on PBMs; Encourages Congress to Protect Older Patients by Holding PBMs Accountable
Washington, DC – Today, House Committee on Oversight and Reform Ranking Member James Comer (R-Ky.) and minority committee members lawmakers will hold a forum to discuss the impact of pharmacy benefit managers (PBMs) in pharmaceutical markets with industry experts, pharmacists, physicians, and PBMs. In anticipation of the forum the Senior Care Pharmacy Coalition (SCPC) offered the following statement from SCPC President and CEO Alan Rosenbloom:
“We welcome today’s forum to examine PBMs and their anti-competitive practices, which ultimately drive-up costs for patients and put independent pharmacies out of business. A handful of PBMs dominate the market, and most are part of much larger health care conglomerates that spread both horizontally and vertically to encompass prescription drug plans and health insurers, retail, specialty, mail order, and long-term care (LTC) pharmacies, giving them immense power to favor the pharmacies they own over the pharmacies they don’t. This forces some pharmacies, especially LTC pharmacies, to provide life-saving medications to patients at a cost that could put them out of business and threaten patient access to essential medications, particularly in rural and medically underserved communities.
Older Americans with long-term care needs require an average of 12-14 prescriptions per year. They are particularly vulnerable to soaring drug prices, and often least able to adapt when local pharmacies close. This is especially true of Medicare beneficiaries who need long-term care and typically have chronic or medically complex conditions as well. This group requires the medication management and enhanced pharmacy services that LTC pharmacies provide. Any unfair PBM practices that inhibit LTC pharmacy services or force them to close can be life-threatening for the hundreds of thousands of patients they serve daily.
Today is a great first step and we thank Rep. James Comer (R-KY) for holding this important forum. Future inquiries must be bipartisan, and since LTC pharmacies and their patients are uniquely impacted by PBMs, we urge Congress to include LTC pharmacies in policy conversations like this one. Congress must pass legislation that requires transparency in PBM drug pricing and related information and provides stronger oversight to hold PBMs accountable.”
Senior Care Pharmacy Coalition and ATI Advisory Share New Analysis of Medicare Beneficiaries Demonstrating Common Long-Term Care Needs Across Settings
The Senior Care Pharmacy Coalition (SCPC) and ATI Advisory (ATI) have released a new analysis finding that 75% of Medicare beneficiaries who need long-term care (LTC) live in the community, while only 25% live in nursing homes or assisted living communities. Nearly 60% of the community-dwelling population with LTC needs also have four or more chronic conditions and fill 10 or more prescription medications a year.
Check out SCPC CEO Alan Rosenbloom on the Pharmacy Podcast Network’s “PBM Reform Podcast”
SCPC President and CEO Alan Rosenbloom speaks with the Pharmacy Podcast Network the importance of advocating for PBM reform, the status of the LTC Pharmacy Definition Act, LTC Pharmacy at-home, drug pricing legislation and its implications for LTC Pharmacy, and more.
SCPC Applauds House Oversight and Accountability Committee Chair James Comer for Launching Investigation into PBM Practices
The Senior Care Pharmacy Coalition (SCPC), the only Washington-based organization exclusively representing the interests of long-term care (LTC) pharmacies, applauds House Committee on Oversight and Accountability Chairman James Comer (R-KY) for launching an investigation into pharmacy benefit managers (PBMs) and their tactics that are harming patient care and increasing costs for many patients.
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